Amazon to acquire fintech firm Axio to expand credit services in India

Amazon is set to acquire Bengaluru-based fintech firm Axio, enabling the e-commerce giant to expand credit-based offerings to its customers in India.

Information about the deal size and shareholding pattern was not disclosed.

“In December, after successful completion of due diligence, we signed an agreement with Amazon for a proposed acquisition of Axio. The transaction will now await the required regulatory approvals,” said Axio in a company blog post.